https://www.taxtmi.com/caselaws?id=85756 In excise valuation, the cost of separately invoiced electric motors used as indispensable components of industrial fans was held includible in the assessable value because the fans could not function without them and the motors formed an integral part of the finished product. The valuation principle applied was that the value of components and raw materials used in manufacture enters assessable value under central excise law, and the exemption-based distinction in Notification No. 120/75-C.E. did not alter that result. On limitation, the extended period could not be invoked because the notices did not allege fraud, collusion, wilful misstatement or suppression of facts; the demand was therefore partly time-barred, with only the normal-period demand sustained. en-us Mon, 02 Sep 1996 00:00:00 +0530 Sat, 06 Aug 2011 18:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85756 In excise valuation, the cost of separately invoiced electric motors used as indispensable components of industrial fans was held includible in the assessable value because the fans could not function without them and the motors formed an integral part of the finished product. The valuation principle applied was that the value of components and raw materials used in manufacture enters assessable value under central excise law, and the exemption-based distinction in Notification No. 120/75-C.E. did not alter that result. On limitation, the extended period could not be invoked because the notices did not allege fraud, collusion, wilful misstatement or suppression of facts; the demand was therefore partly time-barred, with only the normal-period demand sustained. Case-Laws Central Excise Mon, 02 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85756